Nasdaq CEO announces that once space matures then the company is likely to open platform for trading cryptocurrencies like Bitcoin Ripple etc.This will be a good move in the expansion of the cryptocurrency market.
According to Nasdaq CEO Adena Friedman “Certainly Nasdaq would consider becoming a crypto exchange over time,”
Further added, “If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors.”
Friedman said that the main resistance in a way to open cryptocurrency exchange to the company and other institutional investors is regulations, which need to figure out and she also been bullish on future of cryptocurrencies.
“I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” Friedman said. “Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it.”
At present Nasdaq is also supporting present cryptocurrency exchanges. On Wednesday CEO of Gemini cryptocurrency exchange Tyler Winklevoss said that Nasdaq has collaboration with Gemini according to the deal Gemini access to Nasdaq’s surveillance technology to help make sure the platform provides a fair and “rules-based marketplace,”
Friedman is very optimistic about the future of cryptocurrencies but shown her concern over ICO. “ICOs need to be regulated,” she said. “The SEC is right that those are securities and need to be regulated as such.”
A crackdown on ICO fraud in 2008 by U.S Securities and Exchange Commission made an alert on the market and Commission is concrete over making securities law from cryptocurrency exchanges to digital asset storage companies called wallets.
SEC chairman Jay Clayton said the watchdog is devoting a “significant portion of resources” to the ICO market.
